Palo Alto Networks agreed to acquire The Crypsis Group, a leading incident response, risk management and digital forensics consulting firm, for $265 million in cash.
The Crypsis Group's more than 150 security consultants have handled some of the most complex and significant cybersecurity incidents, responding to more than 1,300 security engagements per year. The company was named one of the Top 10 Digital Forensics Services Companies of 2019 and 2020 by Enterprise Security magazine.
Palo Alto Networks already provides prevention, detection and response capabilities through its Cortex XDR. The addition of The Crypsis Group's security consulting and forensics capabilities will strengthen Cortex XDR's ability to collect rich security telemetry, manage breaches and initiate rapid response actions. The Crypsis Group's experts and insights will also fuel the Cortex XDR platform with a continuous feedback loop between incident response engagements and product research teams to prevent future cyberattacks. The company expects to integrate The Crypsis Group's processes and technology into Cortex XDR to further enhance its ability to safeguard organizations at every stage of the security lifecycle.
"The proposed acquisition of The Crypsis Group will significantly enhance our position as the cybersecurity partner of choice, while expanding our capabilities and strengthening our Cortex strategy. By joining forces, we will be able to help customers not only predict and prevent cyberattacks but also mitigate the impact of any breach they may face," said Nikesh Arora, chairman and CEO of Palo Alto Networks.
